“We support the Biden government to make bold investments in US infrastructure,” Bezos said. “We realize that this investment will require concessions from all sides, as well as the details of what is included, as well as how it is paid for.”
This is a notable announcement – especially since Amazon has paid little or no income tax over the past few years. The company reported a US $ 1.8 billion federal tax liability in 2020, compared to net income for the year of $ 21.3 billion.
Amazon’s willingness to increase its tax burden comes because the company has been forced to play defense in a number of other areas.
The online retailer has clashed with lawmakers over the past few weeks over a union vote at an Amazon warehouse in Bessemer, Alabama. Ballot papers are still being counted, but the vote could mean a big win for organized labor and increase the way the company works with hundreds of thousands of American employees.
In his letter from shareholders, Dimon wrote that America is’ clearly under a lot of tension and tension ‘due to the pandemic, racial inequality, the rise of China and’ the divisive presidential election in 2020, which culminates in the storms of the Capitol and the effort to disrupt our democracy. ‘
The influential Business Roundtable has promised to fight higher corporate taxes, which they say will make U.S. companies less competitive. But it is noteworthy that Amazon has decided to shift its focus elsewhere.
Coinbase reports big growth for Wall Street listing
The latest: The digital currency exchange on Tuesday estimated that it brought in $ 1.8 billion in revenue in the first three months of the year. This is higher than $ 1.3 billion for the whole of 2020.
Between January and March, the price of bitcoin – the most popular crypto-currency – rose from less than $ 30,000 to more than $ 58,000, while the ethereal price more than doubled.
“We have seen high crypto-asset prices drive ever-increasing levels of user activity and trading volume on our platform,” Coinbase chief financial officer Alesia Haas said in an investor call.
Keep an eye on this space: Coinbase, which is based in California, is the company with the highest profile in the crypto space that is known and its direct listing on the Nasdaq, which is planned for next Wednesday, is getting a lot of attention.
But regulating the crypto-space remains a major risk. Last month, Coinbase reached a $ 6.5 million settlement with the Commodity Futures Trading Commission over allegations that it provided false or misleading information about transactions and that a former employee engaged in manipulative transactions.
“We are subject to an extensive and highly evolving regulatory landscape and any adverse changes to, or failure to comply with, any laws and regulations may adversely affect our brand, reputation, business, operating results and financial condition.” warned in filing with the Securities and Exchange Commission.
Tops are revealed as trading charts come to life
The pandemic has fueled a boom in the popularity of trading cards, with the hobby attracting a new wave of young fans and a stream of professional investors looking for returns.
The price would be Topps at $ 1.3 billion.
Topps has been an exchange traded company several times during its many decades in business. Most recently, it was launched in 2007 by an investment firm run by former Disney CEO Michael Eisner. The deal was worth $ 385 million.
The industry has also received a boost from the craze over non-fungible signs, or NFTs. Topps recently expanded its business to sell digital editions of its player tickets, each with a unique digital sign built on blockchain technology. This creates a scarcity that makes them more valuable to collectors.
Following
The meeting of G20 finance ministers and governors of central banks will conclude with a press conference at 10 am ET.
Also today:
- The latest data on U.S. crude oil inventories will be released at 10:30 a.m.
- Minutes of the most recent meeting of the Federal Reserve arrive at 14:00 ET.